Geode Capital Management LLC raised its holdings in Mid Penn Bancorp, Inc. (NASDAQ:MPB - Free Report) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 350,375 shares of the financial services provider's stock after acquiring an additional 17,730 shares during the quarter. Geode Capital Management LLC owned 2.11% of Mid Penn Bancorp worth $10,454,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in MPB. Wellington Management Group LLP grew its holdings in shares of Mid Penn Bancorp by 14.3% in the 3rd quarter. Wellington Management Group LLP now owns 638,594 shares of the financial services provider's stock worth $19,049,000 after acquiring an additional 79,851 shares during the period. Dimensional Fund Advisors LP boosted its position in Mid Penn Bancorp by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 418,963 shares of the financial services provider's stock worth $9,195,000 after purchasing an additional 31,292 shares in the last quarter. State Street Corp grew its holdings in Mid Penn Bancorp by 4.9% in the third quarter. State Street Corp now owns 302,384 shares of the financial services provider's stock valued at $9,020,000 after purchasing an additional 14,148 shares during the last quarter. LSV Asset Management increased its position in shares of Mid Penn Bancorp by 21.0% in the second quarter. LSV Asset Management now owns 156,059 shares of the financial services provider's stock valued at $3,425,000 after buying an additional 27,098 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Mid Penn Bancorp by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 144,397 shares of the financial services provider's stock worth $3,170,000 after buying an additional 11,731 shares during the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.
Mid Penn Bancorp stock opened at $28.84 on Wednesday. The stock has a 50-day moving average price of $31.21 and a 200 day moving average price of $28.50. Mid Penn Bancorp, Inc. has a 52 week low of $19.20 and a 52 week high of $33.87. The stock has a market cap of $479.32 million, a PE ratio of 9.91 and a beta of 0.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.
The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.77%. Mid Penn Bancorp's dividend payout ratio (DPR) is presently 27.49%.
In other Mid Penn Bancorp news, Director Albert J. Evans acquired 8,474 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average price of $29.50 per share, with a total value of $249,983.00. Following the completion of the transaction, the director now directly owns 34,712 shares in the company, valued at approximately $1,024,004. This trade represents a 32.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 9,661 shares of company stock valued at $285,020 over the last 90 days. Insiders own 10.70% of the company's stock.
A number of brokerages recently commented on MPB. Keefe, Bruyette & Woods increased their price objective on shares of Mid Penn Bancorp from $34.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. StockNews.com lowered shares of Mid Penn Bancorp from a "buy" rating to a "hold" rating in a research report on Monday, October 14th. Finally, Piper Sandler lifted their price objective on Mid Penn Bancorp from $31.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th.
Read Our Latest Research Report on Mid Penn Bancorp
Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and individual retirement accounts.
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